EUR/USD’s daily chart shows the pair is operating on slippery grounds. A break below 1.1052 looks likely and will likely invite stronger selling pressures. EUR/USD could face strong selling pressure below key support of 1.1052. The pair created a bearish hammer on Wednesday. That candlestick pattern is widely considered an early warning of an impending bearish reversal. The follow-through was bearish on Thursday – the pair clocked a high of 1.1097 before ending the day on a negative note at 1.1058, forming a red candle with a long upper wick. However, the pair managed to avoid a close below 1.1052 – the low of the Wednesday’s bearish hammer. Traders usually wait for confirmation of trend change in the form of a break below the hammer candle’s low. Hence, 1.1052 is a key level. A break below that will likely yield a quick drop to 1.1030. The pair will likely find acceptance below 1.1052, as the long upper wick attached to Thursday’s candle shows a “sell on rise” mentality. The pair is currently trading at 1.1065, representing marginal gains on the day. Daily chart Trend: Bearish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY: Flat in Tokyo as markets look for trade-deal clarity FX Street 3 years EUR/USD's daily chart shows the pair is operating on slippery grounds. A break below 1.1052 looks likely and will likely invite stronger selling pressures. EUR/USD could face strong selling pressure below key support of 1.1052. The pair created a bearish hammer on Wednesday. That candlestick pattern is widely considered an early warning of an impending bearish reversal. The follow-through was bearish on Thursday - the pair clocked a high of 1.1097 before ending the day on a negative note at 1.1058, forming a red candle with a long upper wick. However, the pair managed to avoid a close… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
